Co -founder and general director of Palantir Alex Karp takes part in meetings at the American Capitol in Washington on October 18, 2023.
Jonathan Ernst Reuters
Action price Palantir He fell by as much as 12.5% on Wednesday after the news that the general director Alex Karp adopted a new plan trading plan and report that Pentagon was ordered to prepare to limit the US defense budget by 8% each year for the next five years.
Palantir is best known for contractual work software and technology services for defense agencies.
On Tuesday evening Palantir w regulatory notification He revealed that the new carp plan would allow him to sell almost 10 million shares in the company in the next six months.
The Washington Post The secretary of defense said on Wednesday Pete HegeSeth He ordered senior leaders of the Pentagon and other military brass to develop plans to reduce the defense budget over the next half a decade. The budget for the current financial year is about $ 850 billion.
Post informed that HegeSeth ordered to develop the proposed cuts until Monday.
Palantir closed trade on Wednesday at USD 112.06 per share, which is a 10%decrease. Shares fell by more than 1.5% in trade after hours.
The company, whose market capitalization will reach $ 255 billion, at the beginning of February recorded USD 828 million in revenues in the fourth quarter of 2024, with an adapted profit of 14 cents per share.
Before the sudden decline, Wednesday Palantir has been one of the highest actions in the US over the past two years, including an increase in share price by almost 50% during the year.
Palantir trades in price to a profit of almost 600 to 1.
The Trump administration was involved in extensive efforts to reduce government expenditure and the number of federal government employees from the president Donald Trump He was inaugurated for the second inconsistent term of January 20.
Trump appointed the director of Tesla Elon Musk to supervise this effort, he called the “government department”.
Musk and Trump stood under fire due to their methods of achieving the Doge goal, and some steps were effectively questioned in the Federal Court.
On Tuesday, Carp, which was a co -founder of the company with Peter Thiel, defended musk during a performance at CNBC “Squawk Box”.
“What a progressive left should do says:” OK, Elon, you are apparently the most qualified person in the world to do something like that. We want a dialogue with you about what you do, how you are doing – said Karp.
“I don't believe it happened,” he added.